Posted on 05/23/2017 3:08:11 PM PDT by 2ndDivisionVet
Granules India Ltd. will invest $35 million into its subsidiary, Granules Pharmaceuticals Inc., to expand its pharmaceutical R&D and manufacturing capabilities in Fairfax County, VA. Before choosing Virginia, the company also considered New Jersey for the project, which will create 102 new jobs. In 2014, the company invested $15 million to establish its wholly-owned subsidiary operation, creating 75 jobs in Fairfax.
India-based Granules India Ltd. manufactures Active Pharmaceutical Ingredients (APIs), Pharmaceutical Formulation Intermediates (PFIs), and Finished Dosages (FDs), distributed to customers in both regulated and semi-regulated markets.
“Setting up a development and manufacturing presence in the United States was the first step we took as a company to meet our strategic focus on strengthening our global presence,” said Priyanka Chigurupati, Executive Vice President, Granules India Limited. “Granules Pharmaceuticals Inc. will focus on developing complex generic products by leveraging in-house technology that will increase efficiency and cost effectiveness. We are very excited about our plans for expansion in Fairfax County in the Commonwealth of Virginia. There is a lot of untapped potential with a highly educated and technically savvy workforce, reliable security, diverse amenities and state of the art infrastructure including Dulles International Airport, The Port of Virginia, and the expanded Metrorail in close proximity.”
The project was announced after Governor Terry McAuliffe met with Granules India leadership to discuss the expansion in March 2017. The Virginia Economic Development Partnership will support Granules’ new job creation through its Virginia Jobs Investment Program (VJIP). VJIP provides consultative services and funding to companies creating new jobs or experiencing technological change to support employee training activities. As a business incentive supporting economic development, VJIP reduces the human resource costs of new and expanding companies. VJIP is state-funded, demonstrating Virginia’s commitment to enhancing job opportunities for its citizens.
“Building on the commonwealth’s proven strengths in the pharmaceutical sector and creating jobs of the future are essential to diversifying and building the new Virginia economy,” said Gov. McAuliffe. “Granules India has demonstrated impressive growth at its sole U.S. R&D and manufacturing operation in Fairfax County, a testament to the resources and infrastructure the commonwealth offers in this ever-evolving industry. I was pleased to meet with company leadership to discuss this important expansion project, and I look forward to a continued corporate partnership.”
“Granules India’s rapid success is a strong example of what companies can achieve in Virginia,” said Secretary of Commerce and Trade Todd Haymore. “Pharmaceutical production accounts for 15 percent of the more than 25,000 Virginians employed by the commonwealth’s multibillion dollar life sciences industry. Granules is an important part of Virginia’s unique combination of international companies, major corporations, small businesses, and start-ups, and we are proud the company is a member of our corporate roster.”
“The Fairfax County EDA has greatly enjoyed helping Granules India build its presence here. This announcement is important in several ways,” said Gerald L. Gordon, Ph.D., president and CEO of the Fairfax County Economic Development Authority. “The work that Granules India is doing here in pharmaceutical manufacturing and research is a great example of how the life-science industry is growing rapidly, and the company joins more than 400 other foreign-owned firms that have chosen Fairfax County for U.S. expansion.”
I did not any numbers in reference to the VJIP funding.
I wonder how many $$ per job this will cost.
Take my word on it, you do not want to put anything in your mouth that comes from India.
Uhmm, Virginia isn’t part of India.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.